EasyJet Board Recommends $7.2 Billion Apollo Takeover Amidst Rival Withdrawal

EasyJet's board has unanimously recommended a takeover offer from US private equity giant Apollo Global Management, valuing the low-cost carrier at $7.2 billion (£5.7 billion). The endorsement comes after a previously undisclosed rival bidder, widely speculated to be a consortium backed by Gulf interests or a major Western airline, withdrew its proposal.

Apollo's acquisition, if approved by shareholders, would see EasyJet delisted from the London Stock Exchange, marking a significant shift for the airline that has been a staple of European budget travel for decades. The move is framed by EasyJet's board as providing stability and capital for future growth, particularly in a volatile aviation market.

Observers note that the UK's financial landscape continues to offer opportunities for foreign acquisition, with a weakened sterling often presenting attractive valuations for international investors. This latest transaction underscores a broader trend of private equity firms targeting established British companies, frequently leading to concerns about national asset ownership and long-term economic strategy.